| Bank owned homes and real estate
in the state of New Jersey. New Jersey was recently noted as having the
most real estate foreclosures in the Northeast region. In New Jersey, the
biggest problem counties include Camden, Essex, Ocean, and Union counties.
The median value of owner-occupied housing units in New Jersey in 2000
was $170,800. The median household income for New Jersey in 2003 was about
$56,300.
The areas of New Jersey where bank
owned properties and foreclosures can be located include the capital of
Trenton, as well as other populated areas of Newark, Jersey City, Paterson,
Elizabeth, Edison Township, Woodbridge Township, Dover Township and Hamilton.
New Jersey ranked with other states with foreclosure totals among the nation's
10. There continues to be opportunities in bank owned real estate listings
and sales in New Jersey market.
2006 statistics released by the National
Association of Realtors, showing flatter prices, slowing sales, and more
houses on the market in North Jersey. The volume of house sales dropped
20 percent statewide during the year, and real estate experts expect property
prices and sales to remain slow in 2007, both nationally and in New Jersey.
We can certainly anticipate an increasing number of foreclosures to take
place in New Jersey for the near term. Find your bank owned home and foreclosure
properties in New Jersey on Bank Owned MLS real estate.
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